Chinese Trade Unexpectedly Drops as Demand Slowdown Worsens (1)

China’s exports and imports both unexpectedly fell for the first time in more than two years, with rising risks of a recession causing overseas consumers to buy less and domestic problems such as Covid Zero controls and a housing slump hitting demand at home.

Exports in dollar terms fell 0.3% in October from a year earlier, the customs authority said Monday, well below the 4.5% gain projected by economists. Imports also fell, with the 0.7% decline the first drop since August 2020. That left a trade surplusof $85.15 billion.

Terminal users can click on the chart to see underlying data.

The weakness in exports adds to the domestic pressures ...